Attached files
| file | filename |
|---|---|
| 8-K - 8-K - HERCULES OFFSHORE, INC. | sep15fsr8k.htm |
EXHIBIT 99.1
INCOME STATEMENT | 2015E | 2016E | 2017E | 2018E | |||||||||||
(In thousands) | |||||||||||||||
Revenues | $ | 351,734 | $ | 373,810 | $ | 592,755 | $ | 635,103 | |||||||
Operating Costs | 320,255 | 315,219 | 366,273 | 382,439 | |||||||||||
Gross Profit | 31,479 | 58,591 | 226,482 | 252,664 | |||||||||||
General & Administrative | 59,651 | 59,390 | 60,388 | 61,308 | |||||||||||
EBITDA | (28,172 | ) | (799 | ) | 166,094 | 191,356 | |||||||||
Depreciation and Amortization | 128,811 | 69,721 | 80,113 | 93,179 | |||||||||||
Operating Income | (156,983 | ) | (70,520 | ) | 85,981 | 98,177 | |||||||||
Interest (Expense) | (85,185 | ) | (45,139 | ) | (51,686 | ) | (51,686 | ) | |||||||
Other Income (Expenses) | (1,583 | ) | 496 | 233 | 238 | ||||||||||
Restructuring (Expense) | (35,798 | ) | — | — | — | ||||||||||
Pretax Income | (279,549 | ) | (115,163 | ) | 34,528 | 46,729 | |||||||||
Income Tax (Expense) | (7,923 | ) | (9,367 | ) | (15,935 | ) | (15,533 | ) | |||||||
Net Income (Loss) | $ | (287,472 | ) | $ | (124,530 | ) | $ | 18,593 | $ | 31,196 | |||||
BALANCE SHEET | 2015E | 2016E | 2017E | 2018E | |||||||||||
(In thousands) | |||||||||||||||
ASSETS | |||||||||||||||
Current Assets: | |||||||||||||||
Cash and Equivalents | $ | 500,841 | $ | 156,937 | $ | 159,120 | $ | 180,517 | |||||||
Restricted Cash | 1,000 | — | — | — | |||||||||||
Accounts Receivable, Trade | 68,056 | 103,235 | 132,310 | 140,646 | |||||||||||
Other Current Assets | 27,449 | 27,449 | 27,449 | 27,449 | |||||||||||
Total Current Assets | 597,346 | 287,621 | 318,879 | 348,612 | |||||||||||
Net Fixed Assets | 1,536,614 | 1,733,672 | 1,726,573 | 1,732,336 | |||||||||||
Total Other Assets | 26,123 | 23,573 | 22,925 | 22,277 | |||||||||||
Total Assets | $ | 2,160,083 | $ | 2,044,866 | $ | 2,068,377 | $ | 2,103,225 | |||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||||
Current Liabilities: | |||||||||||||||
Accounts Payable | $ | 39,142 | $ | 47,395 | $ | 51,253 | $ | 53,745 | |||||||
Other Current Liabilities | 120,295 | 117,295 | 114,294 | 111,294 | |||||||||||
Total Current Liabilities | 159,437 | 164,690 | 165,547 | 165,039 | |||||||||||
Long-Term Debt | 437,250 | 440,250 | 443,250 | 446,250 | |||||||||||
Other Liabilities | 19,569 | 18,129 | 16,689 | 15,249 | |||||||||||
Total Equity | 1,543,827 | 1,421,797 | 1,442,891 | 1,476,687 | |||||||||||
Total Liabilities & Stockholders' Equity | $ | 2,160,083 | $ | 2,044,866 | $ | 2,068,377 | $ | 2,103,225 | |||||||
EXHIBIT 99.1
CASH FLOW STATEMENT | 2015E | 2016E | 2017E | 2018E | |||||||||||
(In thousands) | |||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||
Net Income | $ | (287,472 | ) | $ | (124,530 | ) | $ | 18,593 | $ | 31,196 | |||||
Depreciation and Amortization | 128,811 | 69,721 | 80,113 | 93,179 | |||||||||||
Other | 12,938 | 6,148 | 6,148 | 6,248 | |||||||||||
Changes in Working Capital | 97,722 | (31,366 | ) | (29,657 | ) | (10,284 | ) | ||||||||
Net Cash Provided by (Used in) Operating Activities | (48,001 | ) | (80,027 | ) | 75,197 | 120,339 | |||||||||
Cash Flows from Investing Activities: | |||||||||||||||
Capital Expenditures | (101,195 | ) | (264,877 | ) | (73,014 | ) | (98,942 | ) | |||||||
Proceeds from Asset Sales & Other | 11,226 | 1,000 | — | — | |||||||||||
Net Cash (Used in) Investing Activities | (89,969 | ) | (263,877 | ) | (73,014 | ) | (98,942 | ) | |||||||
Cash Flows From Financing Activities: | |||||||||||||||
Issuance of Debt | 436,500 | — | — | — | |||||||||||
Financing Costs | (5,625 | ) | — | — | — | ||||||||||
Net Cash Provided by Financing Activities | 430,875 | — | — | — | |||||||||||
Net Change in Cash | 292,905 | (343,904 | ) | 2,183 | 21,397 | ||||||||||
Beginning Cash Balance | 207,936 | 500,841 | 156,937 | 159,120 | |||||||||||
Ending Cash Balance | $ | 500,841 | $ | 156,937 | $ | 159,120 | $ | 180,517 | |||||||